PNC Financial Services Group Inc. lowered its position in Grand Canyon Education, Inc. (NASDAQ:LOPE – Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,892 shares of the company’s stock after selling 726 shares during the period. PNC Financial Services Group Inc.’s holdings in Grand Canyon Education were worth $646,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Grand Canyon Education in the fourth quarter valued at approximately $54,000. Blue Trust Inc. raised its holdings in shares of Grand Canyon Education by 120.2% during the fourth quarter. Blue Trust Inc. now owns 425 shares of the company’s stock worth $56,000 after acquiring an additional 232 shares during the period. Geneos Wealth Management Inc. lifted its position in Grand Canyon Education by 208.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 429 shares of the company’s stock valued at $57,000 after acquiring an additional 290 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Grand Canyon Education by 41.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 497 shares of the company’s stock worth $66,000 after purchasing an additional 145 shares during the period. Finally, Headlands Technologies LLC bought a new position in Grand Canyon Education during the 4th quarter worth about $101,000. Institutional investors and hedge funds own 94.17% of the company’s stock.
Insider Buying and Selling at Grand Canyon Education
In other news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $132.65, for a total value of $198,975.00. Following the sale, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at approximately $3,405,656.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Grand Canyon Education news, Director Lisa Graham Keegan sold 270 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $147.96, for a total transaction of $39,949.20. Following the completion of the sale, the director now owns 2,635 shares of the company’s stock, valued at approximately $389,874.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the transaction, the chief technology officer now owns 25,674 shares in the company, valued at $3,405,656.10. The disclosure for this sale can be found here. Insiders sold a total of 3,270 shares of company stock worth $462,724 over the last quarter. 2.00% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Robert W. Baird boosted their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. BMO Capital Markets upped their price target on Grand Canyon Education from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. Finally, Barrington Research lifted their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th.
Read Our Latest Research Report on LOPE
Grand Canyon Education Stock Performance
NASDAQ:LOPE opened at $142.46 on Friday. Grand Canyon Education, Inc. has a 52-week low of $99.65 and a 52-week high of $156.56. The company has a market cap of $4.24 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.22 and a beta of 0.60. The stock’s 50-day simple moving average is $137.24 and its 200 day simple moving average is $134.61.
Grand Canyon Education (NASDAQ:LOPE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13. The firm had revenue of $274.68 million for the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a return on equity of 31.81% and a net margin of 21.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 EPS. As a group, equities analysts predict that Grand Canyon Education, Inc. will post 7.8 earnings per share for the current fiscal year.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.
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Source: defenseworld.net
